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Stephen Murray, energy expert at MoneySupermarket, said: 'The energy market is extremely volatile at the moment and prices are moving all the time, almost always upwards, in a way we haven't seen for a while.

'The wholesale market is one big driver of this trend, but the soon to be introduced energy price cap is another factor at play and for suppliers, it's the elephant in the room.

'While prices are rising and getting closer to the level of the price cap (£1,136), it's worth noting the latter will not stay at the same level.

'It will almost definitely rise early next year and customers who sit tight now thinking they will be protected will be sorely disappointed.

'The price cap is creating an artificial market, which will still have to reflect market conditions at its next update. That means its level could rise anywhere from £100 to £150.'

MoneySupermarket said wholesale price hikes have resulted in the Big Six and many of the emerging suppliers being forced to raise their prices.

Wholesale price hikes have resulted in the Big Six and many of the emerging suppliers being forced to raise their prices.

Some, including British Gas, EOn, Scottish Power and EDF, have done so twice this year.

Wholesale energy prices were also cited as a contributing factor when Ofgem announced a £47 rise to the level of the prepayment meter cap, back in August.

MoneySupermarket called on households to switch suppliers in order to save a potential £200, or more on their energy bills.